Sign a Texas listing agreement and seller disclosures
You’ll need to read and sign a Texas listing agreement to get the sale process started (here’s an example of what one looks like.)
Key things to pay attention to include:
Type of listing agreement
Most listing agreements fall under an exclusive right-to-sell listing agreement. Under this agreement, the agent works solely for you and gets paid regardless of whether they bring forward the buyer (most of the time, the buyer comes through a separate “buyer’s agent”).
Here’s what it says on the Texas listing agreement form:
(EXAMPLES IN NEXT SLIDES)
Length of the agreement
The agreement should clearly state the start and expiration dates, and how to extend the agreement (if desired).
Listing commission rate
Did a realtor tell you their commission rate is 3%? Well, make sure that the rate matches up to what’s on the listing agreement.
Here’s where it appears on the Texas listing agreement; most agents work under a percentage commission basis.
Items that convey with the property
If you plan to keep items or belongings in the home, you’ll need to write that down in the listing agreement. Things like appliances and light fixtures would go here.
Texas realtor disclosure requirements
Texas law requires agents to provide you with an agency disclosure form, which describes all of the agent’s legal duties to you.
Contact a local real estate attorney for more advice on Texas listing agreements and required disclosures.
Seller’s property disclosure: What do Texas sellers need to disclose?
Texas home sellers must notify buyers about any defects that may affect the value of the home or the buyer’s readiness to purchase it in a Seller’s Disclosure Notice. You must fill out the form, even if you aren’t planning to use an agent.
The disclosure of material defects on a property should be made prior to executing a contract.
Ask your real estate attorney or agent about your home disclosure requirements, and check out the Texas Realtors website for disclosure FAQs.
Can you sell a house as-is in Texas?
Sellers have the option of selling their house “as-is.” According to the One to Four Family Residential Contract, this means a buyer accepts your home in its current condition at the time the contract is signed.
However, an as-is sale doesn’t exempt sellers from filling out the seller’s disclosure form (you probably still need to).
The buyer can still get inspections and request you to make repairs or back out of the contract.
Federal law also requires homeowners to fill out a Texas lead-based paint form for homes built before 1978.
Consult with a local real estate professional or attorney for more guidance on disclosures.
